India CPI inflation for September 2025 cooled sharply to 1.54%, compared to 2.07% in August — the lowest in nearly 99 months. The decline was driven by negative food inflation for the fourth consecutive month. While core inflation stayed elevated at 4.2%, analysts remain divided on whether the RBI will consider a repo-rate cut soon.
Tata Capital lists with mild gains
Tata Capital had a modest listing, opening 1.23% above its IPO price but closing the day positive. MD & CEO Rajiv Sabharwal said festive-season demand in auto, two-wheeler, and tractor loans should lift Q3 and Q4 FY26 performance. The listing added 22 lakh new shareholders and underlined Tata Capital’s growing presence in clean-energy lending.
HCL Tech’s steady Q2 FY26
HCL Technologies reported revenues of ₹31,942 crore (+11% YoY) with flat net profit of ₹4,235 crore. Operating margin expanded 120 bps to 17.5%. The firm retained FY26 guidance of 3–5% revenue growth and 17–18% EBIT margins. New deal wins touched $2.56 billion (+15.8% YoY). HCL Tech declared an interim dividend of ₹12 per share.
InCred Capital nears Unicorn status
InCred Capital is raising ₹500 crore in a new equity round, likely from existing investors, pushing it closer to Unicorn valuation. With FY25 revenues of ₹825 crore and FY26 expected to cross ₹1,000 crore, this will be InCred’s second Unicorn after InCred Finance. Founder Bhupinder Singh is backed by marquee investors including Ranjan Pai, Ravi Pillai, Mankind Pharma Group and Paragon Partners.
Foxconn to invest ₹15,000 crore in Tamil Nadu
Foxconn Technology Group, Apple’s key supplier, announced an investment of ₹15,000 crore in Tamil Nadu. The project aims to create 14,000 high-value jobs and expand capabilities in battery technology, AI-led manufacturing, and R&D. The state has launched a dedicated ‘Foxconn Desk’ for fast-track approvals and coordination.
Limited response to SGB redemption window
The RBI’s premature-redemption window for Sovereign Gold Bonds (SGBs) has seen muted participation amid strong gold sentiment. With a 35% YTD rally, total SGB liabilities have surged to ₹1.5 lakh crore — a 930% jump since FY18. This sharp rise reflects global ETF flows, central-bank buying, and de-dollarization trends in the gold market.
Tata Trusts reappoint N. Chandrasekaran
N. Chandrasekaran has been approved for a third term as Chairman by Tata Trusts, extending his tenure beyond 2027. Despite Noel Tata’s reservations, the majority supported continuity. Under his leadership, Tata Group revenues have doubled and profits tripled, with key projects like semiconductors, EV batteries, and Air India revival underway.
Gold & Silver at record highs
Gold soared to $4,068/oz and Silver to $52/oz on Monday, marking new records. Gold has gained over 40% and Silver more than 50% in 2025, driven by safe-haven demand, rate-cut expectations, and supply tightness from the US Section 232 probe into critical minerals.
